Home buying mistakes to avoid
- Waiting and waiting: There is no “perfect time” to buy. Don’t wait indefinitely. There are several important factors other than the house’s price to consider — namely the current interest rates, market trends, your needs and more.
- Impatience can lead to regret: Some rush into buying the first home they view. Sleep on it first. Ask for your friends’ and family members’ advice. There are plenty of homes out there for you.
- Be a smart buyer: Getting too excited over a home right in front of the sellers or their agent might cause them to consider holding out for a higher price. Play it cool.
- Buying the wrong size: Families grow. Consider something slightly — but not extravagantly — larger than your current needs.
- Excessively low-balling your offer: If the sellers’ market is doing well and you’re offering 10% below the asking price, don’t be surprised if you lose the home. See what nearby houses are going for and bid accordingly.
- Not getting it in writing: This one is very important. If the seller promises to replace the home’s aging shingles, get it in writing, and signed.